The U.S. Securities and Exchange Commission (SEC) has taken a significant step in its ongoing legal battle with Binance by leveraging a recent ruling in the Ripple class action lawsuit. The SEC has filed the Ripple case as supplemental authority in the Binance lawsuit, citing the relevance of the judge’s opinion in the Ripple case to the Binance case.

The SEC believes that the Ripple case has significant implications for the Binance lawsuit, particularly in regards to the classification of XRP as a security. The SEC is seeking to use the Ripple case to support its argument that XRP is a security and that Binance, Binance.US, and former CEO Changpeng Zhao have violated securities laws.

The Ripple case, which was decided by Judge Hamilton in the District Court of California, ruled in favor of Ripple, dismissing most of the plaintiff’s claims of securities violations. However, the ruling also raised questions about the status of XRP as a security, with Judge Hamilton stating that programmatic buyers of XRP may have purchased the cryptocurrency with the expectation of profits to be derived from Ripple’s efforts.

The SEC is seeking to use this ruling to support its argument that XRP is a security and that Binance, Binance.US, and former CEO Changpeng Zhao have violated securities laws. The SEC believes that the Ripple case has significant implications for the Binance lawsuit and is seeking to use it to support its argument that XRP is a security.

The Binance lawsuit is currently in the discovery and deposition phase, with most discovery disputes already resolved. The lawsuit is seeking the court’s ruling on several motions, including a joint motion to dismiss the lawsuit.

In summary, the SEC is leveraging the Ripple ruling in the Binance lawsuit to support its argument that XRP is a security and that Binance, Binance.US, and former CEO Changpeng Zhao have violated securities laws. The SEC believes that the Ripple case has significant implications for the Binance lawsuit and is seeking to use it to support its argument that XRP is a security.